NEXT GATE
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-07-2026 at the NBB all 6 filings
Equity
-€5,794
2024 · €13,468
Total assets
€2,764▼ 94.6%
2024 · €50,914
Net result
-€19,262
2024 · €4,294
Working capital
-€6,007
2024 · €6,059
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
-€19,430
2025
20202025
Net result
-€19,262
2025
lowest quarter of the sector
20202025
Equity
-€5,794
2025
lowest quarter of the sector
20202025
Total assets
€2,764
▼ 94.6%
2025
lowest quarter of the sector
20202025
Debt
€8,558
▼ 77.1%
2025
20202025
Working capital
-€6,007
2025
lowest quarter of the sector
20202025
Solvency
no figure
2025
20202025
Current ratio
no figure
2025
20202025
Return on assets (ROA)
no figure
2025
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result€14,555-€3,314▼ 77.2%-€9,456€28,328€7,714▼ 72.8%-€19,430
Net result€10,604within the sector's middle half-€1,376below the sector's middle half▼ 87.0%-€9,914below the sector's middle half€21,109within the sector's middle half€4,294below the sector's middle half▼ 79.7%-€19,262below the sector's middle half
Equity€13,104below the sector's middle half-€14,479below the sector's middle half▲ 10.5%€4,565below the sector's middle half▼ 68.5%€25,674within the sector's middle half▲ 462%€13,468below the sector's middle half▼ 47.5%-€5,794below the sector's middle half
Total assets€43,583below the sector's middle half-€44,144below the sector's middle half▲ 1.3%€25,942below the sector's middle half▼ 41.2%€60,785below the sector's middle half▲ 134%€50,914below the sector's middle half▼ 16.2%€2,764below the sector's middle half▼ 94.6%
Debt€30,479-€29,665▼ 2.7%€21,377▼ 27.9%€35,111▲ 64.2%€37,446▲ 6.7%€8,558▼ 77.1%
Working capital€9,772below the sector's middle half-€11,805below the sector's middle half▲ 20.8%€2,489below the sector's middle half▼ 78.9%€13,211within the sector's middle half▲ 431%€6,059below the sector's middle half▼ 54.1%-€6,007below the sector's middle half
Solvency30.1%below the sector's middle half-32.8%below the sector's middle half▲ 2.7pp17.6%below the sector's middle half▼ 15.2pp42.2%within the sector's middle half▲ 24.6pp26.5%below the sector's middle half▼ 15.8pp
Current ratio1.32below the sector's middle half-1.40within the sector's middle half▲ 0.081.12below the sector's middle half▼ 0.281.38within the sector's middle half▲ 0.261.16below the sector's middle half▼ 0.21
Return on assets (ROA)24.3%within the sector's middle half-3.1%below the sector's middle half▼ 21.2pp-38.2%below the sector's middle half▼ 41.3pp34.7%above the sector's middle half▲ 72.9pp8.4%within the sector's middle half▼ 26.3pp
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €19,430, after a profit of €7,714 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2,764
Fixed assets
€213 ▼ 97.1%
Current assets
€2,551 ▼ 94.1%
Equity and liabilities
Equity-€5,794
Debt€8,558
Equity is negative. Debt (€8,558) exceeds the balance-sheet total (€2,764).
Key figures and ratios
Debt ≤ 1 year
€8,558▼
2024 · €37,446
Income taxes
€248▼
2024 · €3,231
The ratios are withheld because a balance sheet total of €2,764 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,140 | €1,436 | €16,014 | €1,034 | - |
| Financial fixed assets | - | €170 | - | - | - |
| Depreciation and write-downs of the year | €1,796 | €2,205 | €5,627 | €6,089 | - |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,213 | €1,796 | €2,205 | €5,627 | €6,089 | - | - |
| Other operating charges640/8 | - | €606 | €1,244 | €804 | €869 | €5,204 | ▲ 499% |
| Gross operating margin9900 | €17,365 | €5,716 | -€6,007 | €34,759 | €14,672 | -€14,226 | - |
| Operating profit (loss)9901 | €14,555 | €3,314 | -€9,456 | €28,328 | €7,714 | -€19,430 | - |
| Financial income75/76B | - | €52 | - | €96 | €1 | €502 | ▲ 985× |
| Recurring financial income75 | €37 | €52 | - | €96 | €1 | €502 | ▲ 985× |
| Financial charges65/66B | - | €173 | €342 | €233 | €190 | €87 | ▼ 54.3% |
| Recurring financial charges65 | €78 | €173 | €342 | €233 | €190 | €87 | ▼ 54.3% |
| Profit (loss) for the period before taxes9903 | €14,514 | €3,193 | -€9,798 | €28,190 | €7,525 | -€19,014 | - |
| Income taxes67/77 | €3,910 | €1,817 | €116 | €7,082 | €3,231 | €248 | ▼ 92.3% |
| Profit (loss) for the period9904 | €10,604 | €1,376 | -€9,914 | €21,109 | €4,294 | -€19,262 | - |
| Profit (loss) for the period to be appropriated9905 | €10,604 | €1,376 | -€9,914 | €21,109 | €4,294 | -€19,262 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €43,583 | €44,144 | €25,942 | €60,785 | €50,914 | €2,764 | ▼ 94.6% |
| Formation expenses20 | €15 | - | - | - | - | - | - |
| Fixed assets21/28 | €3,317 | €2,675 | €2,076 | €12,463 | €7,409 | €213 | ▼ 97.1% |
| Tangible fixed assets22/27 | €3,274 | €2,632 | €1,863 | €12,250 | €7,196 | €0 | ▼ 100% |
| Land and buildings22 | - | €600 | €25 | - | - | - | - |
| Furniture and vehicles24 | - | €2,032 | €1,838 | €12,250 | €7,196 | €0 | ▼ 100% |
| Financial fixed assets28 | €43 | €43 | €213 | €213 | €213 | €213 | = |
| Current assets29/58 | €40,251 | €41,470 | €23,866 | €48,322 | €43,505 | €2,551 | ▼ 94.1% |
| Stocks and contracts in progress3 | €3,283 | €8,661 | €5,771 | €4,246 | €5,961 | €0 | ▼ 100% |
| Stocks30/36 | - | €8,661 | €5,771 | €4,246 | €5,961 | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €18,825 | €10,764 | €15,755 | €19,907 | €27,936 | €0 | ▼ 100% |
| Trade receivables40 | - | €10,764 | €15,755 | €19,907 | €25,544 | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | - | €2,391 | - | - |
| Cash at bank and in hand54/58 | €17,393 | €21,576 | €1,777 | €24,170 | €9,609 | €2,551 | ▼ 73.5% |
| Deferred charges and accrued income490/1 | - | €469 | €564 | - | - | - | - |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €43,583 | €44,144 | €25,942 | €60,785 | €50,914 | €2,764 | ▼ 94.6% |
| Equity10/15 | €13,104 | €14,479 | €4,565 | €25,674 | €13,468 | -€5,794 | - |
| Contributions10/11 | - | €2,500 | €2,500 | €2,500 | €2,500 | €2,500 | = |
| Profit (loss) carried forward14 | €10,604 | €11,979 | €2,065 | €23,174 | €10,968 | -€8,294 | - |
| Amounts payable17/49 | €30,479 | €29,665 | €21,377 | €35,111 | €37,446 | €8,558 | ▼ 77.1% |
| Amounts payable within one year42/48 | €30,479 | €29,665 | €21,377 | €35,111 | €37,446 | €8,558 | ▼ 77.1% |
| Trade debts44 | €10,240 | €5,975 | €3,449 | €4,569 | €3,515 | €400 | ▼ 88.6% |
| Suppliers440/4 | - | €5,975 | €3,449 | €4,569 | €3,515 | €400 | ▼ 88.6% |
| Taxes, remuneration and social security45 | - | €10,432 | €8,250 | €18,665 | €19,906 | €3,001 | ▼ 84.9% |
| Taxes450/3 | - | €6,426 | €7,724 | €16,532 | €19,906 | €3,001 | ▼ 84.9% |
| Remuneration and social security454/9 | - | €4,006 | €526 | €2,133 | - | - | - |
| Other amounts payable47/48 | - | €13,258 | €9,678 | €11,878 | €14,025 | €5,157 | ▼ 63.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10,604 | €1,376 | -€9,914 | €21,109 | €4,294 | -€19,262 | - |
| + Depreciation and write-downs630 | €2,213 | €1,796 | €2,205 | €5,627 | €6,089 | - | - |
| Operating cash flow (approximation) | €12,817 | €3,172 | -€7,709 | €26,736 | €10,383 | -€19,262 | - |
| Investment in fixed assets (approximation) | - | -€1,154 | -€1,606 | -€16,014 | -€1,034 | €7,196 | - |
| Change in cash | - | €4,183 | -€19,798 | €22,393 | -€14,561 | -€7,058 | ▲ 51.5% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 6,008 companies had the same profile as NEXT GATE has now. Two years later, 83.0% were still going and 7.9% had gone bankrupt.
- Micro
- 5 to 10 years old
- negative equity
- a loss of 10% of the balance sheet or more
83.0%
was still going
8.4%
stopped otherwise
7.9%
went bankrupt
Another 0.8% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of NEXT GATE itself is lower: 0.4% within 12 months. It rests on far more data about NEXT GATE than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 6,008 companies, not a prediction for NEXT GATE. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 30-07-2026 | 2026-00355114 | |
| 31-12-2024 | micro format | 25-08-2025 | 2025-00410884 | |
| 31-12-2023 | micro format | 07-08-2025 | 2025-00363369 | |
| 31-12-2022 | micro format | 31-07-2023 | 2023-00291894 | |
| 31-12-2021 | micro format | 15-07-2022 | 2022-20222353 | |
| 31-12-2020 | micro format | 24-08-2021 | 2021-52200337 |